(MENAFN- IANS) New Delhi, Sep 10 (IANS) Welcoming the GST Council's reduction in tax rates on essential cancer drugs, experts on Tuesday said that it is a crucial step and will make life-saving medicines more affordable and accessible to patients.
In a significant development for cancer patients across India, the GST Council at its 54th meeting held in New Delhi, on Monday evening decided to slash the GST rate from 12 per cent to 5 per cent on key cancer medications, including Trastuzumab Deruxtecan, Osimertinib, and Durvalumab.
“This move marks a crucial step in making life-saving treatments more affordable for patients battling cancer,” Dr Pritam Kataria, Consultant, Medical Oncology, Sir H.N. Reliance Foundation Hospital, told IANS.
“With the incidence of cancers rising significantly this is a welcome move and further will increase the confidence of patients in the treatment system,” he added.
Cancer treatment can get expensive due to the long duration of treatment and the high cost of drugs, especially in cases where the drug needs to be imported as in the case of immunotherapy or targeted therapy.
“The slash in GST will allow more patients in India to receive the standard care. With the new treatment coming in reducing the side effects of therapy and improved responses this will improve the outcome in the patient,” Kataria said.
The three drugs -- Trastuzumab deruxtecan are used for breast cancer, Osimertinib for lung cancer drug for EGFR mutation, and Durvalumab for lung and biliary tract cancers. Deruxtecan drug can be used in all cancers with Her2 positive gene.
The government had also exempted customs duty on these three cancer drugs in the Union Budget 2024-25.
“We welcome the GST Council's decision to lower the GST on cancer drugs to 5 per cent. With the increasing burden of chronic diseases in India, this is a move toward making life-saving drugs accessible and improving health outcomes,” said Sudarshan Jain, Secretary General, of the Indian Pharmaceutical Alliance.
"This much-needed GST cut can also improve access to advanced cancer treatments, reduce the financial burden on patients and their families, and potentially improve treatment outcomes by allowing more patients to benefit from these drugs,” Dr. Ashish Gupta, Medical Oncologist and Chief of Medical Oncology at Unique Hospital Cancer Centre in New Delhi told IANS.
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